👋🏼 from Ann Arbor! Where could I find this video shareable to people not on blue sky? I always enjoy listening to explain things because you make economic issues so clear.
You should be able to download the clip if you know how to use 'developer inspect' feature. Alternatively there are online services that let you download video if you provide a url. For bluesky.. those services are still buggy.
I generally understand that tariffs are mostly passed through to consumers. Are there situations where tariffs are beneficial, perhaps not to consumers but to the nation at large? I'm not looking for silver linings, just understanding. Thank you.
Linda, not sure if a professional will reply to you or not but I can share what I know; I can think of two situations where tariffs are thought 'beneficial' 1) you believe a competing nation is 'dumping' a product into your market below cost in an attempt to kill your domestic industry and
2) you have a national security reason to have a domestic 'XYZ' industry, even if foreign competitors can produce 'XYZ' cheaper. For example, having a domestic steel or aluminum industry is likely pretty important for national security reasons (planes, tanks, etc) so you aren't depending on a rival
You are welcome. I thought of one more. 3) When you are trying to establish an industry, you may launch a protective tariff that favors domestic production as a short-term accelerant. Example: Hamilton thought tariffs necessary to launch a domestic manufacturing industry (and escape agrarianism)
Absolutely. When tariffs are called a sales tax, which they essentially are and most people understand, it misses the impact of cost increases at levels not normally considered, such as materials components. I think Trump tariffs will act more as a value-added tax (VAT) but without the transparency.
Comments
https://bsky.app/profile/thebegonis.bsky.social/post/3lc4sfgowtk24